May 20, 2013 | 12:58 AM (BD Time)
20 May, 2013 Monday
NBL, Money Gram make formal announcement of remittance deal
. Staff Reporter
National Bank Limited (NBL) and Money Gram International Monday made a formal announcement of deal on remittances from Bangladeshi expatriates.
The announcement came from Neaz Ahmed, NBL's managing director (MD), and Harsh Lambah, senior regional director for south Asia, Money Gram International, at a press conference at the National Press Club in the city.
Under the deal, the Bangladeshis working abroad are entitled to sending their money home through the bank's 155 branches across the country.
However, the money transfer service has been already in place since February.
"We want to facilitate remittances from Bangladeshi expatriates to their family members, in a very safe, quick and secured way." the NBL MD told the announcement ceremony.
The deal aims to support the government in reducing the illegal channels of remittances and increasing the inward flow of remittances, Neaz added.
"For many in Bangladesh, remittances meet the financial demands of daily lives and we are convinced that MoneyGram's vast international presence in 194 countries allows Bangladeshis living and working aboard to find convenient locations to send money home," the bank's top official said.
Harsh Lambah said, "We are proud of our new association with the NBL as it is a local leader with extensive experience in the money transfer space."
MoneyGram, a global leading money transfer company, has presence in 194 countries, he added.
"South Asia is an important region for Money Gram and we know working with NBL will propel our expansion and help us meet the growing consumer demands for remittances in Bangladesh," Lambah said.
Bangladesh received $11.6 billion in money transfers in 2011, placing it among the top 10 'recipient' countries in the world, officials said, quoting World Bank data.
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